Gold Purchase Agreement: Definition, Example
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Quick Facts — Gold Purchase Agreement Lawyers
- Avg cost to draft a Purchase Agreement: $850.00
- Avg cost to review a Purchase Agreement: $680.00
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What is a Gold Purchase Agreement?
A gold purchase agreement is contract between a gold buyer and seller that solidifies the terms and conditions of the sale and makes it official. This document includes details about what type of gold is being sold, for what price, and on what date the payment is to be made. It also typically contains clauses that guarantee the legitimacy of the gold itself.
The gold purchase agreement is important because it simplifies the buyer-seller relationship. By noting specific rules and regulations, buyers and sellers are able to effortlessly work together toward closing the deal while being certain that their interests are being protected.
Gold Purchase Agreement Sample
Exhibit 10.1
FORWARD GOLD PURCHASE AGREEMENT
The undersigned (the “Purchaser”) hereby irrevocably subscribes for and agrees to purchase from GOLDEN CHEST LLC (the “Seller”), a subsidiary of New Jersey Mining Company (the “Issuer”), ounces of forward gold production of the Seller as represented below at a price of $935 per ounce of gold for an Aggregate Purchase Price of $ (the “Aggregate Purchase Price”). The Purchaser agrees to be bound by the agreements set forth in this Forward Gold Purchase Agreement, the Subscription Agreement, Schedule A “Security of the Forward Gold Purchase Agreement,” and Schedule B “Accredited Investor Questionnaire”, which documents, along with the Private Placement Memorandum (“PPM”), are attached hereto and form part of this Forward Gold Purchase Agreement. The Seller shall deliver ounces of .999 gold on a quarterly basis over eight quarters with the first payment beginning December 1, 2016, for a total of ______ounces of .999 gold, in the following quarterly amounts:
(i)
______ ounces of .999 gold on or before December 1, 2016;
(ii)
______ ounces of .999 gold on or before March 1, 2017;
(iii)
______ ounces of .999 gold on or before June 1, 2017;
(iv)
______ ounces of .999 gold on or before September 1, 2017;
(v)
______ ounces of .999 gold on or before December 1, 2017;
(vi)
______ ounces of .999 gold on or before March 1, 2018;
(vii)
______ ounces of .999 gold on or before June 1, 2018; and
(viii)
______ ounces of .999 gold on or before September 1, 2018.
PURCHASER
DELIVER THE GOLD TO:
Signature of Purchaser
Attention – Full Name
Name of Purchaser (Printed)
Street Address
Purchaser’s Street Address
City, State and Postal Code
City, State and Postal Code
Telephone Number
PENALTY UPON DEFAULT AND CONVERTIBILITY
Failure of the Seller to meet minimum monthly gold distribution schedules will result in a penalty premium to be paid to the Purchaser equal to 20% interest per annum on the remaining balance of distributable gold, to be calculated over such quarterly period. For any particular quarterly period and upon 90-days notice to the Seller, Purchaser may convert the amount due for the quarter into cash equal to the value of the gold, which shall be calculated by using the average of the London PM fix prices during such quarter.
The Seller hereby accepts the subscription as set forth above on the terms and conditions contained in this Forward Gold Purchase Agreement (including the PPM, Subscription Agreement and Accredited Investor Questionnaire attached hereto) as of this ___ day of , 2016.
GOLDEN CHEST LLC
NEW JERSEY MINING COMPANY
a subsidiary of New Jersey Mining Company
Issuer and Parent Company
Per:
Per:
Grant Brackebusch, Manager
Del Steiner, CEO
Address: 201 N. 3rd Street
201 N. 3rd Street
Coeur d’Alene, Idaho 83814
Coeur d’Alene, Idaho 83814
Email: gbrack@newjerseymining.com
Email: gbrack@newjerseymining.com
1
Reference:
Security Exchange Commission - Edgar Database, EX-10 2 ex101.htm FORM OF GOLD PURCHASE AGREEMENT, Viewed September 16, 2022, View Source on SEC.
Who Helps With Gold Purchase Agreements?
Lawyers with backgrounds working on gold purchase agreements work with clients to help. Do you need help with a gold purchase agreement?
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Kristen R.
Kristen R.
Currently fighting Stage 4 Lung Cancer and not taking new clients.
"Kristen worked very quickly to get what we needed! Our local attorneys told us it would take them weeks to do what she did in just a few days. We are thrilled!!"
Sam Y.
I am a Connecticut-licensed business attorney with over a decade of combined legal and business-operations experience, including roles as in-house counsel, Director of Operations & Compliance, and Director of Growth. I provide practical, business-focused legal solutions to entrepreneurs, small and mid-sized businesses, and investors who need a trusted advisor that understands both the legal and operational realities of running a company.
"Had great SaaS product legal knowledge and got me everything I needed."
Adam J.
I'm a California-licensed attorney with 18+ years of experience helping everyone from Fortune 500 companies and venture-backed startups to individuals navigating real-life legal situations. I bring an high degree of emotional intelligence to every matter, and am also certified as both a coach and as a counselor. My career started at Fenwick & West, one of Silicon Valley's top law firms, where I worked alongside names like Google, Airbnb, Kleiner Perkins, and Sequoia Capital. From there I moved in - house at companies like Cloudflare, Autodesk, and Enphase - which gave me a practical, business-minded perspective that I bring to every client, no matter the size of the matter. Today I work with businesses and individuals alike. On the business side, that means commercial contracts, leases, startup corporate work, and serving as a fractional general counsel for companies that need a trusted legal partner without the overhead. On the personal side, I help individuals with employment matters, disputes, demand letters, contract review, and the kind of everyday legal situations where you just need someone knowledgeable in your corner. I'm direct, responsive, and I speak plain English — not legalese. Whether you're a founder closing your first deal or an individual facing a situation you've never navigated before, I'll give you the same level of attention and care.
"Adam was great to work with and generous with his time. He was very quick to respond via email and phone. He did a dual representation between buyer and seller for a stock purchase agreement which seemed like could be tricky to navigate but Adam knew exactly what to say and how to word things so both parties were extremely satisfied. I highly recommend working with him if looking for an attorney."
Terence B.
Terry Brennan is an experienced corporate, intellectual property and emerging company transactions attorney who has been a partner at two national Wall Street law firms and a trusted corporate counsel. He focuses on providing practical, cost-efficient and creative legal advice to entrepreneurs, established enterprises and investors for business, corporate finance, intellectual property and technology transactions. As a partner at prominent law firms, Terry's work centered around financing, mergers and acquisitions, joint ventures, securities transactions, outsourcing and structuring of business entities to protect, license, finance and commercialize technology, manufacturing, digital media, intellectual property, entertainment and financial assets. As the General Counsel of IBAX Healthcare Systems, Terry was responsible for all legal and related business matters including health information systems licensing agreements, merger and acquisitions, product development and regulatory issues, contract administr
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Heather B.
Heather B.
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"The quality of the demand letter was excellent. We had some last-minute changes and she accommodated those changes in the in the revision well. Highly recommend."
Paul M.
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"Paul was great to work with - he got back to me incredibly quickly, had a competitive price, and gave me the feedback I was looking for in a way that was very easy for me to understand, and gave me confidence to move forward with my independent consulting contracts. Thanks, Paul!"
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Samantha P.
Samantha earned her J.D. at the University of Hawaii, William S. Richardson School of Law and has been a member of the Hawaii State Bar Association since 2020. Samantha has worked as a Family Law attorney in Hawaii since 2020, and has represented clients on a variety of family law matters including: premarital agreements, pre- and post-judgement custody, parenting time and child support issues, pre- and post-divorce issues, interstate custody, and paternity issues. Samantha is a certified E-RYT 200 yoga instructor, taught yoga classes at the Modern Hotel in Waikiki throughout law school, and continues to teach yoga classes at various yoga studios in Honolulu to this day.
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ContractsCounsel User
Company I hold a small portion of stock in is being bought out and I have been advised to have a lawyer review the purchase contract.
Location: California
Turnaround: A week
Service: Contract Review
Doc Type: Purchase Agreement
Page Count: 95
Number of Bids: 5
Bid Range: $1 - $1,000
ContractsCounsel User